ED

NEW YORK – Warren Buffett, the chairman Berkshire Hathaway Inc has overtaken Bill Gates as the world’s richest man, according to Forbes annual billionaire’s list.

Forbes announced that Buffett’s wealth increased from $52 billion to about $62 billion in the last twelve months, mostly from a gain in his company’s shares.

The Microsoft’s co-founder Bill Gates, who held the top position continuously for last 13 years, was dropped to No. 3 behind Buffet and the Mexican based telecommunications businessman Carlos Slim, whose wealth has almost doubled just with in two years. The net worth of Carlos is estimated to have $60 billion, while Gates is now said to be worth $58 billion.

“He is the smartest and intelligent investor of his generation,” said Ken Murray, who administers the Blue Planet Investment Management in Edinburgh. “The incredible amount of wealth he has accumulated puts him up there with Carnegie and Morgan.”

Tags: Berkshire Hathaway Inc, Bill Gates, Forbes, Warren Buffett, World's Richest Man